AMMAN — The Saudi Cabinet has approved a memorandum of understanding signed between the Ministry of Investment and the Saudi Authority for Industrial Cities and Technology Zones and the Special Economic Zones to enhance cooperation in their respective fields.

The agreement is expected to open new approaches for the exchange of technical and regulatory expertise in developing economic zones, while boosting their competitiveness through innovation, investment incentives and modern infrastructure, contributing to job creation and improving the investment environment, the Jordan News Agency, Petra, reported.

In October 2025, the two countries signed an amended annexe to the Agreement on the Promotion and Protection of Mutual Investments, along with the memorandum of understanding, on the sidelines of the Future Investment Initiative conference in Riyadh.

Saudi investments in Jordan have witnessed “notable” growth in recent years, recording an increase of 5.6 per cent over the past four years.

Saudi investments account for around 7 per cent of total foreign direct investment in Jordan, reflecting both the volume of investments and the depth of mutual trust and “strong” economic ties between the two kingdoms.

The Economic Modernisation Vision and Saudi Vision 2030 share aligned goals and measurable targets, forming a joint roadmap for progress and growth.

The Ministry of Investment, in coordination with relevant Saudi entities, is working to implement and follow up on these agreements through a joint action plan that includes specific projects in energy, transport, logistics, tourism and advanced technologies.

The agreements reflect a vision for “deeper” economic integration between Amman and Riyadh, with the aim of achieving prosperity and growth for both kingdoms' peoples.

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